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Rajshree Sugars and Chemicals Limited Rep. by Its Director and Chief O ...

Court : Chennai

Subject : CommercialContract

Acts : Contract Act, 1872 - Sections 23, 24, 30 and 31; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 2, 17, 18 and 19(6) to 19(11); Specific Relief Act, 1963 - Sections 3, 37 and 41; Banking Regulation Act, 1949 - Sections 6(1), 6(2) and 35A; Specific Relief Act, 1887 - Sections 41 and 56; SARFAESI Act; Gaming Act, 1845 - Sections 18; Gaming (Amendment) Act, 1892; Bombay Forward Contracts Control Act; Forward Contracts (Regulation) Act, 1952; Securities Contracts (Regulation) Act, 1956 - Sections 2 and 18A; Reserve Bank of India Act, 1934; Foreign Exchange Regulation Act, 1973 - Sections 73(3); Foreign Exchange Management Act, 1999 - Sections 47(2); Reserve Bank of India (Amendment) Act, 2006 - Sections 45U, 45V, 45V(1), 45V(2), 45W and 45X; Civil Proc

Reported in : 2008BusLR908; 2009(1)CTC227; (2008)8MLJ261

with some options and then proceed to introduce exotic features/options. 94. Thereafter, the Reserve Bank of India (Amendment) Act, 2006, was passed, legitimising the transactions in derivatives, with retrospective effect, with the introduction of Chapter III-D in the … ago. The pricing of the deals, follows a scientific pattern on the basis of Financial Mathematics. Just as Actuaries scientifically determine the value of insurance risks and the premium payable, Financial Mathematicians (or Portfolio Managers) evaluate the … come up with several applications, whose details are as follows:(i) O.A. No. 526 of 2008 seeking an interim order of injunction restraining the plaintiff from

National Federation of Independent Business Vs. Sebelius

Court : US Supreme Court

Subject : Land Acquisition

Nat'l Fed'n of Indep. Bus. v. Sebelius NOTE: Where it is feasible, a syllabus (headnote) will be released, as is being done in connection with this case, at the time the opinion is issued. The syllabus...

Assistant Commissioner of Income Vs. Asea Brown Boveri Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2007)11TTJ(Mum.)502

v. ITO 20 BCAJ 232 and a recent order dt. 24th Feb., 2006 of the Mumbai Bench of this Tribunal in Wockhardt Ltd. v. Asstt. … non-allocation of head office expenses to individual undertakings eligible for deduction under Chapter VIA will lead to inflation of profits of such industrial undertakings for … him, the liability of the assessee for contribution to the gratuity fund has to be ascertained on an actuarial basis. He contends that the payment has been made soon after the ascertainment of such liability and, therefore, … the disallowance of a sum of Rs. 62,26,739 being guest house expenses under Section 37(4) of the IT Act. It is submitted that the expenditure of Rs. 62,26,739 includes expenditure on rent, rate, taxes, insurance and depreciation … Tribunal in Gupta Garments v. Asstt. CIT (1995) 52 TTJ (Mad) 574 : (1995) 53 ITD 362

Regional Provident Fund Commissioner and ors. Vs. Mafatlal Group Staff ...

Court : Mumbai

Subject : Labour and Industrial

Acts : Constitution of India - Articles 14 and 226; Employees Provident Fund and Miscellaneous Provisions Act, 1952 - Sections 6, 6-A and (2) and 17

Reported in : 1994(1)BomCR425; (1993)95BOMLR147; (1993)IILLJ1066Bom; 1993(2)MhLj1377

buttress the above view. [Jagannath Singh v Dr. Ajay Upadyay & anr 2006 Cri LJ 4274; 2006 (5) AIR Bom R held per incuriam]. - … for such a power not to be specified under the provisions of Chapter XII of the Code. In terms of Section 41, a police officer … value the Family Pension Fund at intervals of three years, after taking into account the report of the actuarial valuer. 4. The analysis of the above Scheme, therefore, contemplates that in case of employees who are employed … the Employees' Provident Fund Scheme, 1952, framed under Section 6-A of the Employees Provident Funds and Miscellaneous Provision Act, 1952 on the ground that the said clause was ultra vires Article 14 of the Constitution. 2. The

The Regional Director, Southern Regional Business Centre, Oil and Natu ...

Court : Chennai

Subject : Service

Acts : Workmen's Compensation Act; Payment of Wages Act - Sections 7(1) and 7(2); Payment of Gratuity Act - Sections 14; Minimum Wages Act; Payment of Bonus Act; Employees Provident Fund Act - Sections 1(3), 7, 12 and 17; Income Tax Act, 1961 - Sections 2 and 80; Trust Act; Employees' State Insurance Act; Constitution of India - Articles 38, 39, 41, 42, 43, 47 and 226; Income Tax Rules - Rule 2(2)

Reported in : (2008)IILLJ1001Mad

Death-in-Service Superannuation Benefit Scheme for the period from April 2005 to March 2006 @ Rs. 1608.33 p.m. on my behalf.We are of the view that … as per which, her contribution to PRBS is shown as deduction under Chapter VI-A under Section 80(c) Income Tax Act. By analysis of the rate … Item no.8, relating to review of PRBS and 5 additional issues, were considered.8. Based on the discussions, … ensure that both the contributions by employees and the benefits flowing to them must be broadly commensurate. Since actuarial appraisal is done every three years, as provided by the statutory scheme itself, we are sure that the … the event of permanent total disablement or death, over and above the amount payable under the Workmen's Compensation Act.3. The draft scheme was approved by the Government of India on 18.09.1991 and by the Income Tax Department

Scottish Widows plc (Appellant) Vs. Commissioners for Her Majesty's Re ...

Court : UK Supreme Court

Subject : MRTP

of Session, and now before this Court, creates a risk of getting lost in a labyrinth of abstractions. Actuaries, accountants and lawyers are trying to converse in the same language, but it is not easy going. It … Customs ("the Revenue") as to the tax consequences. 36. On 11 October 2006 the Company and the Revenue joined in making a referral to the … 1988, Part XII dealt with special classes of companies and businesses, and Chapter 1 of Part XII dealt with insurance companies, underwriters and capital redemption … profits: Revell v Edinburgh Life Insurance Co (1906) 5 TC 221, 227 per Lord President Dunedin. But … ("the Company") and Her Majesty's Revenue and Customs ("HMRC") under para 31 of Schedule 18 to the Finance Act 1998: [2010] CSIH 47, 2010 SLT 885, 2010 STC 2133. The question that was referred to the Special

City of Cape Town Municipality Vs. South African Local Authorities Pen ...

Court : South Africa Supreme Court of Appeal

Subject : Land Acquisition

the Registrar, an amended version of the resolution was submitted in May 2006 and approved by the Registrar in terms of s 12(4) of the … its context it is important to look at the purpose for which Chapter VA, which deals with the office of the Pension Funds Adjudicator, was … rules. In terms of rule 4.2.2.2, the rate of the employers contribution is subject to review at each actuarial investigation ” ordinarily every three years. [8] Rule 4.5 provides that if at any time the balances in … in which the court a quo dismissed an appeal in terms of s 30P of the Pension Funds Act 24 of 1956 (the Act) against a determination of the Acting Pension Funds Adjudicator (the Adjudicator). The appeal

intercontinental Consultants and Technorats Pvt. L Vs. U.O.i. and anr.

Court : Delhi

Subject : Service Tax

In this writ petition, the petitioner challenges the constitutional validity of Rule 5 of the Service Tax (Determination of Value) Rules, 2006 to the extent … as may be prescribed. Section 67 of the Act as it stood before being substituted by the Finance Act, 2006, w. e. f. 01.05.2006 was as under:67. Valuation of taxable services for charging service tax For the purposes … the alternative that the said rule is ultra vires of the provisions of Section 66 and 67 of Chapter V of the Finance Act, 1994.2. The petitioner is a company providing consulting engineering services. It specialises in

Ece Industries Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2007)111TTJ(Delhi)11

parties agree that the exact amount of compensation for the liabilities reserves shall be jointly determined by the actuaries of ECE and Osram as per the date of closing. The calculation shall be based on the same … loss to be adjusted against the profit for the current year.3.3 The AO invoked Section 50 of IT Act and issued a notice to the assessee vide letter dt. 29th Jan., 2002 to explain as to why … additional grounds were admitted by the Bench by order dt. 30th May, 2006.5. As the core issue in the original grounds of appeal, as reproduced … equipment and the lamp equipment outside Sonepat to be transferred according to Chapters 2.1 and 2.2, hereinafter jointly referred to as "lamp equipment" fully represent

Union of India Vs. M/S Intercontinental Consultants and Technocrats pv ...

Court : Supreme Court of India

Subject : Service Tax

to arrive at ‘gross value’ charged from their clients. As per Rule 5 of the Service Tax (Determination of Value) Rules, 2006 (hereinafter referred to … providing the services as they cannot be treated as element/components of service. Section 67 was amended by Finance Act, 2006 w.e.f. May 01, 2006. Since the cases before us involve period prior to the aforesaid amendment as well … of the Rules as unconstitutional as well as ultra vires the provisions of Sections 66 and 67 of Chapter V of the Finance Act, 1994 (hereinafter referred to as the ‘Act’). The High Court of Delhi has,